Shaw Walters, the founder of the Eliza project, has declared the project's AI token dead. The decision to shut down the foundation came after a class-action lawsuit settlement drained the remaining funds, leaving no resources to continue development.
What killed the token
The class-action lawsuit targeted the project over its token sale. Walters did not disclose the exact settlement amount, but said it consumed all the money the foundation had left. Without capital, the foundation could not pay for ongoing operations or further development of the AI token.
Founder's statement
Walters made the announcement on social media, stating plainly that the token is dead. He did not offer a timeline for a potential revival or mention any plans to restructure the project. The foundation's website and official channels have not been updated since the announcement.
What happens next
With the foundation dissolved, the token's future is uncertain. Holders are left without a development team or roadmap. Walters has not indicated whether he will pursue any new projects or if the Eliza name will be used again. The class-action settlement is expected to be finalized in the coming weeks, but no further details have been released.
